What does electronic banking allow customers to do?

Master personal finance with the DECA Personal Financial Literacy Exam. Use flashcards and multiple choice questions to deepen your understanding. Prepare for success with detailed explanations and expert tips!

Electronic banking enables customers to perform transactions 24 hours a day by utilizing online banking platforms and mobile applications. This convenience allows individuals to manage their finances without being restricted by traditional banking hours. Customers can check balances, transfer money, pay bills, and make deposits at any time, which enhances their overall banking experience. This flexibility makes it easier for people to handle their finances according to their schedules, rather than being limited to typical banking hours, fostering a more efficient way to manage personal finances.

The other options do not accurately reflect the capabilities of electronic banking. Accessing loans through ATMs is not a standard feature associated with electronic banking, as loan applications typically require additional steps. Likewise, offering full bank services only on weekdays contradicts the very purpose of electronic banking, which is to provide access at any time. The option about securing investments directly through a broker falls outside the primary functions of electronic banking, which focuses more on everyday transactions rather than direct investment services.

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